Providing cover for the under-insured mass markets in Africa

This blog by Rick Huckstep explains why the people living on the African continent, with the notable exception of South Africa, are massively under-insured. The people of Africa need cover and protection in the same way the rest of us do. They still get ill, they lose their jobs, and they lose precious possessions through theft and breakage and natural disasters.

By the Numbers: Benchmarking Progress Toward Financial Inclusion

Can the world achieve full financial inclusion by 2020? By the Numbers: Benchmarking Progress Toward Financial Inclusion, a new Financial Inclusion 2020 (FI2020) publication from CFI, offers a quantitative review of financial inclusion globally, using publicly available data to examine recent progress and projecting a scenario out to 2020.

How Fintech Can Disrupt Africa’s Cash-Based Economy

Eighty percent of Africans don’t have a bank account – let alone a credit card – but they have a phone, and for most that will soon be a smartphone. The lack of legacy means Africa is a greenfield opportunity for fintech.

World Bank reports massive drop in number of unbanked

From 2011 and 2014, 700 million people became account holders at banks, other financial institutions, or mobile money service providers, and the number of unbanked individuals dropped 20 percent to 2 billion adults, according to the 2014 Global Findex released this week.